During a financial briefing in Japan, IGN reports that Square Enix President Yoichi Wada fielded questions about the company's coming financial year and, in the process, confirmed what we'd all previously suspected: there's no way Final Fanasy XIII is coming in 2007.

In fact, Wada says investors shouldn't expect the epic RPG until after their coming fiscal year, which means no Final Fanasy XIII in Japan until at least May 2008. North America will probably receive the game sometime in the fall of 2008.

Few really anticipated Square Enix to push Final Fantasy XIII out the door in 2007, but with Metal Gear Solid 4: Guns of the Patriots starting to look like an early 2008 release, PlayStation 3 is losing some of its biggest sales drivers to the highest cost of next-generation development -- it takes a hell of a long time to make games now.

Rumors have persisted that a demo will appear on the PlayStation Network before the year is out, however. Just because the finished game is taking some time doesn't mean Square Enix won't let fans get a taste of their brewing creation early.

Thanks to 1UP.com for sharing the news with us!